MANY opposition-slant keyboard warriors are seemingly slamming the Madani government over the recent shutdown of the Jinko Solar Technology Sdn Bhd plant in Perai, mainland Penang, attributing this to mismanagement of the Malaysian economy when this might not be the case.
For context, a Facebook post by one Hilmi Isa which was re-posted by staunch opposition social media influencer Ratu Naga a.k.a. Syarul Ema Rena Abu Samah has blatantly blamed “economic analysis noting the Malaysian economy is very difficult to rise”.
“Investors will not come in. The existing ones are rushing to exit. They don’t believe in the Malaysian economy which is very CORRUPT and WEAK,” penned the pro-Perikatan Nasional (PN) social media influencer.
“Imagine big factories like Jinko can also closed down. That’s why I told my wife a few years back to save by having ample CASH RESERVE. We can’t foresee the future.”
While many PN backers tend to agree with Hilmi that poor management of the Madani economy is instrumental for Jinko Solar’s factory shutdown, one learned commenter questioned the accuracy of Hilmi’s claim.
“Are you sure? Isn’t this is due to the company having been barred from exporting to the US? Isn’t this is because Jinko is suspected of using forced Uyghur labour? Try to research first than to simply blame Malaysia,” asserted the netizen.
Further research by FocusM indicated that the Shanghai-headquartered JinkoSolar Holding Co Ltd had succumbed to a slowdown in solar panel manufacturing triggered by the US’ investigations into crystalline silicon photovoltaic cells and expiry of anti-dumping exemptions for selected solar products.
In May this year, the US opened anti-dumping and anti-subsidy investigations into crystalline silicon photovoltaic cells from Cambodia, Malaysia, Thailand and Vietnam while in early June, a two-year 200% tariff exemption granted by the US for certain solar imports out of Malaysia had come to an end.
These developments are expected to make Chinese solar product manufacturers re-think their operations not only in Malaysia but also in other regional markets.
For example, Longi Green Energy Technology Co Ltd had in early June announced plans to halt production at its Vietnam plant while Trina Solar Co Ltd said its facilities in Thailand and Vietnam would enter maintenance shutdowns.
Seven of the 11 largest solar PV companies have operations in Malaysia, including First Solar, Longi, SunPower, Hanwha Q Cells, Jinko and Risen. – July 24, 2024
